www.pennyauction.com.my Serious Talk
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 Jul 1 2009, 04:59 PM
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Senior Member
1,113 posts Joined: Jan 2005 From: <Insert interesting place>  
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it looks like a scam or con but done in a creative way designed to lure greedy people who cant do simple math.
also the staff could easily place the last bid (or even rig the system) to ensure that they do not lose the item when they can't earn any profit. it is however a very lucrative way to make money, lol. |
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Jul 1 2009, 05:02 PM
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Senior Member
666 posts Joined: Jan 2003 From: Left Hand Society, West London
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QUOTE(Xonius @ Jul 1 2009, 04:59 PM) it looks like a scam or con but done in a creative way designed to lure greedy people who cant do simple math. lottery disguised as auctionalso the staff could easily place the last bid (or even rig the system) to ensure that they do not lose the item when they can't earn any profit. it is however a very lucrative way to make money, lol.  can report or not |
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Jul 1 2009, 05:07 PM
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Junior Member
360 posts Joined: Jan 2003
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QUOTE(Xonius @ Jul 1 2009, 04:59 PM) it looks like a scam or con but done in a creative way designed to lure greedy people who cant do simple math. You wouldn't say that if you win the auction....also the staff could easily place the last bid (or even rig the system) to ensure that they do not lose the item when they can't earn any profit. it is however a very lucrative way to make money, lol. |
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Jul 1 2009, 05:14 PM
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Senior Member
1,113 posts Joined: Jan 2005 From: <Insert interesting place>
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QUOTE(Panda @ Jul 1 2009, 05:07 PM) You wouldn't say that if you win the auction.... what? do you even understand how it works? NO. Try to visit that site and do some research first.No business wants to lose money. btw are you a staff there? |
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Jul 1 2009, 05:16 PM
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Senior Member
666 posts Joined: Jan 2003 From: Left Hand Society, West London
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staff/founder maybe
thats why can kaotim with vijay to get adspace. old member |
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Jul 1 2009, 05:35 PM
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Junior Member
360 posts Joined: Jan 2003
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http://www.pennyauction.com.my/detailauction/210
Congratulations!!! Specialist has won the auction for HP Mini Laptop.. |
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Jul 1 2009, 05:40 PM
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Senior Member
572 posts Joined: Nov 2004
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he really waste a lot of bids for the item. i wonder they grant the item or not. wait until he reply here.
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Jul 1 2009, 05:42 PM
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Senior Member
2,675 posts Joined: Dec 2008
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Can the mod merge thread http://forum.lowyat.net/topic/1075687 with thread http://forum.lowyat.net/topic/1077480 please?
Thank you ! This post has been edited by convivencia: Jul 1 2009, 05:44 PM |
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Jul 1 2009, 05:44 PM
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Senior Member
666 posts Joined: Jan 2003 From: Left Hand Society, West London
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QUOTE(jackal1950 @ Jul 1 2009, 05:40 PM) he really waste a lot of bids for the item. i wonder they grant the item or not. wait until he reply here. » Click to show Spoiler - click again to hide... « there is a winner in the other thread. like i said, gambling disguised as auctions This post has been edited by vorchiel: Jul 1 2009, 05:46 PM |
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Jul 2 2009, 09:21 PM
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Junior Member
360 posts Joined: Jan 2003
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QUOTE(vorchiel @ Jul 1 2009, 05:44 PM) » Click to show Spoiler - click again to hide... « there is a winner in the other thread. like i said, gambling disguised as auctions Ebay and Lelong are not scam? What about Lowyat garage sales? Don't forget a lot of ppl got cheated on garage sales too.... |
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Jul 2 2009, 09:38 PM
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Senior Member
1,521 posts Joined: Oct 2004 From: Island where you get pearl
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QUOTE(Panda @ Jul 2 2009, 09:21 PM) Why all ppl are saying Pennyauction is a scam?? I thought its an auction site just like Ebay or Lelong... Haha if u do the math on the bidding price then u'll know how much they could profit from this.Ebay and Lelong are not scam? What about Lowyat garage sales? Don't forget a lot of ppl got cheated on garage sales too.... Example... ipod touch for RM25.11 assume its RM0.01 increment and RM1.50 per bid that makes 2511 x 1.50 = 3766+ while the retail price for 1 ipod touch only 1k+... do ur math carefully and u'll know the hidden cost and why everyone complain its a scam... Well for me i bid using my 5 free bids  |
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Jul 2 2009, 09:41 PM
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Senior Member
666 posts Joined: Jan 2003 From: Left Hand Society, West London
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bidding on ebay is free
the commission that ebay gets is in fixed percentage, based on the closing price. if on ebay, if you dont win, then that's it. no hidden charges penny auction is quite a clever idea i agree getting interests on those advanced payments for credits then 'funding' the prices of the prizes from the bidders, making profits along the way. well, good luck to your auction site. |
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Jul 2 2009, 11:07 PM
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Senior Member
876 posts Joined: Jan 2003 From: Tokyo, London, Singapore, KL, Space  
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Soon, there will be hundreds of pennyauction copycat sites popping up
This post has been edited by firedauz: Jul 2 2009, 11:07 PM |
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Jul 3 2009, 10:26 AM
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Junior Member
360 posts Joined: Jan 2003
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QUOTE(firedauz @ Jul 2 2009, 11:07 PM) Soon, there will be hundreds of pennyauction copycat sites popping up You can open one too if you want to.... The Pennyauction script is available on the internet, just install it and done!!!  |
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Jul 3 2009, 10:31 AM
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Senior Member
572 posts Joined: Nov 2004
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come come.. we can share capital and buy those products to be auction off...
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Jul 3 2009, 10:54 AM
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Junior Member
238 posts Joined: May 2007 From: Sunway or Melaka
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i just win the 25 free bids yesterday..and today will try bid to win an items..haha..
the profit they make really double up and maybe triple up, and i don't think this is a scam because it was provided by mobile88.com, example a LCD-TV selling at rm30.00 mean ,there are 3000 bids for the TV. the cheapest price for a bid is rm1.50 if you buy 300bids one time, then you do the math... imagine everyone using the cheapest bid, 3000 x rm1.50 = rm4500. and if 50% bidder using free bids, still = rm2250... but actually i still think this is a win win situation if you succesfully bid the item... if not, you are wasting alot of money just for the bids. |
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Jul 3 2009, 11:50 AM
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Senior Member
572 posts Joined: Nov 2004
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QUOTE(xiong_21 @ Jul 3 2009, 10:54 AM) i just win the 25 free bids yesterday..and today will try bid to win an items..haha.. what i afraid is there are bots around which mark up the price until it reach a safe zone then let the lucky one win.the profit they make really double up and maybe triple up, and i don't think this is a scam because it was provided by mobile88.com, example a LCD-TV selling at rm30.00 mean ,there are 3000 bids for the TV. the cheapest price for a bid is rm1.50 if you buy 300bids one time, then you do the math... imagine everyone using the cheapest bid, 3000 x rm1.50 = rm4500. and if 50% bidder using free bids, still = rm2250... but actually i still think this is a win win situation if you succesfully bid the item... if not, you are wasting alot of money just for the bids. |
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Jul 3 2009, 05:10 PM
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Junior Member
360 posts Joined: Jan 2003
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http://www.pennyauction.com.my/detailauction/182
Someone won HP laptop mini with only RM1.33... interesting... I thought you guys are saying PennyAuction uses bot to increase the price? |
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Jul 3 2009, 05:33 PM
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All Stars
21,963 posts Joined: Dec 2004 From: KL
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QUOTE(Panda @ Jul 3 2009, 05:10 PM) http://www.pennyauction.com.my/detailauction/182 Then that guy must be one lucky s.o.bSomeone won HP laptop mini with only RM1.33... interesting... I thought you guys are saying PennyAuction uses bot to increase the price? I just tried to bid on 2 items and all got bid by other ppl when the timer nearly end. So go figure out. |
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Jul 3 2009, 05:36 PM
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Junior Member
138 posts Joined: Sep 2008
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look like hattrick game system lol
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